Slumping lithium prices signal angst over China’s demand outlook

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PLUS: Newmont leadership changes | Horizonte Minerals cost overrun | Hancock raises stake in Liontown

October 2nd, 2023 MINING NEWS DIGEST   Slumping lithium prices signal angst over China's demand outlook Lithium prices are spiraling down toward the lowest level in two years on concerns over the strength of Chinese demand.   Newmont announces leadership changes to facilitate Newcrest integration Natascha Viljoen will assume the role of COO at Newmont this Tuesday.   Horizonte Minerals plunges 60% following cost overruns and delays at Araguaia The company said costs for its Araguaia nickel project in Brazil will escalate by at least 35%.   Hancock inches towards blocking stake in Liontown amid Albemarle bid Hancock said on Friday it raised its stake from 10.7% last month to 12.4%.   With bulked up resource base, Wicheeda REE project ready to advance to prefeasiblity  Company aims to produce an average of 25,000 tonnes of rare earth oxides per year, approximately 10% of the world's current production.   US optimistic it will reach critical minerals deal with EU After signing a minerals deal with Japan in March, the US, along with both the EU and Britain, is now seeking similar agreements.   Firm dollar and rising inventories send copper prices below $8,000 Inventories of copper in LME-registered warehouses have surged 141% in the past three months.   Codelco strikes early deal with Radomiro Tomic mine supervisors' union Nearly 90% of union members voted to approve the agreement.   Gold price extends decline as higher US rates take toll Traders are pricing in a 55% chance that the Federal Reserve will leave interest rates at the current range.   Argonaut Gold mulls Mexican asset sale to sharpen focus on flagship Magino mine in Ontario The company is targeting commercial production at Magino by the end of the quarter.   Vedanta dollar bonds slip after plan to split up India business Vedanta to split business into six listed companies.   Zimbabwe searches for mine survivors as relatives lose hope Miners were trapped underground when a disused gold mine collapsed last week.   Lithium Royalty seeks to buy rival to gain Argentina stake Lithium Royalty made an unsolicited offer to acquire TNR Gold for 8 Canadian cents per share on Friday.   Thungela says coal terminal workers' strike not impacting exports Workers at Richards Bay Coal Terminal have been on a strike for the past three weeks.   ABB launches global Young Engineer Exchange Program International, two-year program offers graduates overseas rotations in Canada, Australia, Poland, South Africa, Sweden or China.     You are receiving this email because this email was subscribed to the MINING.com News Digest List. You may manage your subscription, or unsubscribe at any time. This email was sent to you by MINING.COM Copyright © 2023 . All rights reserved.